Intact Investment Management Inc. Increases Stock Position in Facebook, Inc. (NASDAQ:FB)

Intact Investment Management Inc. lifted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the social networking company’s stock after acquiring an additional 600 shares during the period. Intact Investment Management Inc.’s holdings in Facebook were worth $3,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FB. Watson Rebecca purchased a new position in shares of Facebook during the second quarter worth approximately $25,000. JJJ Advisors Inc. lifted its holdings in shares of Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after purchasing an additional 105 shares during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Facebook during the first quarter worth $41,000. Elmwood Wealth Management Inc. acquired a new stake in shares of Facebook during the first quarter worth $46,000. Finally, NuWave Investment Management LLC lifted its holdings in shares of Facebook by 1,019.2% during the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 65.12% of the company’s stock.

FB opened at $253.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. The stock has a market capitalization of $668.11 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The business has a 50-day moving average of $235.27 and a two-hundred day moving average of $207.59. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $255.85.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. Equities research analysts anticipate that Facebook, Inc. will post 7.36 earnings per share for the current year.

In other news, CAO Susan J.S. Taylor sold 1,195 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total transaction of $266,951.05. Following the completion of the sale, the chief accounting officer now owns 3,147 shares in the company, valued at approximately $703,008.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $205.29, for a total value of $4,516,380.00. Following the sale, the executive now owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The disclosure for this sale can be found here. Insiders sold a total of 68,591 shares of company stock valued at $14,894,825 in the last 90 days. 14.14% of the stock is owned by company insiders.

Several brokerages recently weighed in on FB. DZ Bank reaffirmed a “buy” rating on shares of Facebook in a report on Wednesday, May 20th. Citigroup increased their price target on Facebook from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Cfra downgraded Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Nomura Instinet increased their price target on Facebook from $253.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Credit Suisse Group raised their target price on Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $273.37.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

Further Reading: Profit margin is different from the revenue

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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